Tech Parents Annual Fund Guidelines
The Tech Parents Annual Fund Committee consists of approximately eight individuals, representing staff and students from across campus. Each request is taken into serious consideration, debated, and discussed. There are several factors that the committee focuses on when making their decision. The factors include, but are not limited to, the following:
Does the request adhere to the Tech Parents Annual Fund Policy?
- Is there an attached event/program/travel/equipment budget? How detailed is the budget? Are efforts being made by the requesting group to minimize costs and to seek out other sources of income? Is the overall organization budget included with the request materials that details the need for funding for this request?
- Is there an attached rationale that thoroughly and clearly describes the event? Are the purposes and goals of the event in line with the goals of the organization and the Michigan Tech mission, vision, goals and strategic plan?
- How soon is the event/travel? Has the requesting group planned in advance and solidified event/travel logistics?
- How many people will benefit and what impact will the event/program/travel/equipment have on the Michigan Tech campus and community?
- Is the event a new initiative? If so, has the requesting organization researched the need for/interest in this type of event? Is documentation of student support for the request included in the rationale?
- Is this event an annual or traditional event for the organization requesting funds? If so, how is this year’s event different or improved from past events?
Availability of Funding and Types of Requests
- Is there available funding? The availability of funds at the time of the request is dependent upon the type of request. Projected fund allocations are made from the total Tech Parents Annual Fund budget for each of the following categories: travel, programs/events, and equipment/miscellaneous costs. For example, if the travel portion of the Fund has been depleted, other travel requests are not likely to be approved.
- How many similar clubs and organizations (i.e. Greek organizations, Residence Hall Organizations, Cultural Organizations, etc.) have requested and been awarded funds during the year?
- Equipment requests should not exceed $2,000.00. Equipment requests should include evidence of appropriate storage for newly purchased equipment in the request rationale. All equipment purchased by Parents Fund monies is property of the organization/department and should be retained from year to year by the group.
- Travel funding allocations will be determined by the number of members in the organization that are traveling, the distance to be traveled, the associated costs of transportation, and the costs of conference/competition fees or registration. A per person allocation is granted to the requesting group/organization. Should the number of persons traveling decrease, the amount allocated may be reduced accordingly.
Submitted travel requests should include evidence that the requesting organization/department has investigated ways to minimize travel costs including researched alternate travel methods, hotel accommodations nearby, and potential of future regional or less costly travel opportunities in the near future.
All requests are reviewed by the fund administrator, who reserves the right to request additional information from the requesting organization prior to bringing the request to the committee for review. Decisions made about requested funding are at the sole discretion of the committee, which meets bi-weekly throughout fall and spring semester. The committee reserves the right to partially fund a request.
Acknowledgment of event support by the Tech Parents Annual Fund in any program or publicity prepared for the event is required. If funded, all subsequent publicity for the event and any event programs or news releases must contain the following statement, “This event is supported by the Tech Parents Annual Fund.”